Commodity Prices

Gold •647 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	2,065.20	-46.90	-2.22%
WTI Crude •1 day	95.81	-2.06	-2.10%
Gasoline •1 day	3.016	+0.015	+0.51%
Ethanol •647 days	2.161	+0.000	+0.00%
Silver •647 days	30.82	+1.16	+3.92%

Silver • 647 days	30.82	+1.16	+3.92%
Copper • 647 days	4.530	+0.111	+2.51%
Brent Crude • 1 day	95.20	-0.72	-0.75%
Natural Gas • 1 day	2.652	-0.018	-0.67%
Heating Oil • 1 day	3.745	-0.192	-4.87%

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USD/CHF: Testing The Key Support at 0.9084/0.9079

By - Feb 05, 2013, 5:16 AM CST

USD/CHF is testing the low of its horizontal range between 0.9079 and 0.9383. A decisive break of this support would open the way for a move towards the strong support at 0.8931, whereas a break of the hourly resistance at 0.9121 (31/01/2013 high) is needed to improve the short-term outlook. Another resistance is at 0.9227 (30/01/2013 high).

The break of prior support at 0.9423 (18/06/2012 low) has invalidated the succession of higher lows that started in August 2011. The lower low made on 20 December 2012 confirms a bearish bias. A break of the key resistance at 0.9383 (see also declining channel on a daily chart linking the 28 August top with the one made on 13 November) is needed to negate this bias.

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